Guideline Value for Karikalan 4th Street

Karikalan 4th Street guideline value

The current guideline value of Karikalan 4th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Karikalan 4th Street has changed

The guideline value for Karikalan 4th Street has undergone several revisions over the years. In the 2002 revision, the value was Rs 328 per sq.ft, which increased to Rs 374 per sq.ft in 2003. The value saw a significant rise to Rs 1,200 per sq.ft in 2007, followed by a drop to Rs 3,500 per sq.ft in 2012. The 2017 revision marked a further increase to Rs 2,345 per sq.ft, and the value rose sharply to Rs 3,500 per sq.ft in 2023. Most recently, the 2024 revision set the current guideline value at Rs 3,900 per sq.ft.

Between the revisions, notable changes include an increase of 11% from 2023 to 2024 and a substantial 49% increase from 2017 to 2023. The value decreased by 33% from 2012 to 2017, while it increased by 192% from 2007 to 2012, and 221% from 2003 to 2007. Overall, from 2002 to 2024, the guideline value has increased by 1089%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, placing Karikalan 4th Street at the same level as this median.

• Karikalan 1st Lane: Rs 3,900 per sq.ft (2024)
• Karikalan 5th Street: Rs 3,900 per sq.ft (2024)
• Karikalan East 1st Street (East Karikalan Ist street): Rs 3,900 per sq.ft (2024)
• Karikalan East 2nd Street (East Karikalan 2nd street): Rs 3,900 per sq.ft (2024)
• Karikalan Street Main: Rs 3,900 per sq.ft (2024)
• Karuneegar Street (Main): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Karikalan 4th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karikalan 4th Street?

The Sub Registrar Office that covers Karikalan 4th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Adambakkam

The guideline value is a crucial factor when buying or selling property in Adambakkam, as it determines the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the guideline value ensures that the sale price is not undervalued for the purpose of registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Karikalan 4th Street?

The current guideline value of Karikalan 4th Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 328 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 1089%.

What is the land classification for Karikalan 4th Street?

Karikalan 4th Street is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for a property in Karikalan 4th Street?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000, and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles the registration for Karikalan 4th Street?

The Alandur Sub Registrar Office handles the registration for Karikalan 4th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.